Disgorgement powers expanded: regulators can require surrender of profits or avoided losses from securities law contraventions. Power under section 12A is declared to include authority to direct any person who made a profit or averted a loss by contravening the Act or its ... Summary
Disgorgement powers expanded: regulators can require surrender of profits or avoided losses from securities law contraventions.
Power under section 12A is declared to include authority to direct any person who made a profit or averted a loss by contravening the Act or its regulations to disgorge an amount equivalent to the wrongful gain made or loss averted.
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